I have a lot of faith in Mikami. When he made Resident Evil 4, he never advertised it's final direction as a survival-horror game, but as an action game. Resident Evil he believed at that point needed a bit more action injected into it to stay alive he believed, which was logical at that point with all of the RE clones and dwindling sales on the franchise. After RE4 though, Mikami left and the direction the games have taken were not decided by him. Mikami has a profile record that is just quality, and he has never designed a game I have disliked. It is a shame this is the last game he says he'll ever direct, though.
If he says he's going to make a survival-horror game, I believe him that he'll be making one. What I'm intrigued by with this news is not only the fact the CGI artist is returning (as many have said, he did an amazing job on REmake), but what that suggests for Zwei. The small bits of Zwei we have seen have looked fantastic in concept art form, but could the title be using pre-rendered scenes? The newest piece of art released silently makes it look like it might. It would make sense as Mikami has said that they want to go back to 'full-blown survival-horror', and one of the things most people relate that to is fixed camera angles.
I don't think this is a bad thing, though I am curious how they might deal with it in a modern setting, and to improve some of the flaws a system like this has, such as controls.